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Nesten Announces Strategic Collaboration with PNI Sensor to Bring Blockchain Economics to IoT Connected Shared Parking

Nesten Announces Strategic Collaboration with PNI Sensor to Bring Blockchain Economics to IoT Connected Shared Parking

Nesten, a leading IoT communications provider at the forefront of building trusted blockchain IoT networks, has created a blockchain-based ecosystem for shared parking leveraging PNI Sensor’s PlacePod smart parking sensors. As the company continues to expand its wireless footprint throughout the U.S. and around the world, the collaboration marks Nesten’s latest success in introducing advanced IoT and blockchain technologies to strategic use cases ideal for reaping tangible benefits from the platform’s cost and operational efficiency.

In 2019, Nesten began deploying its wireless nodes to various states throughout the United States and around the world, with the first large-scale metropolitan deployment completed earlier this year. The implementation actively demonstrates Nesten’s radical new approach to IoT wireless communication and data management, one where participants serve as the network building blocks and where they can maintain full control over who accesses the data they generate.

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Nesten’s rapidly growing network is the ideal environment for establishing new horizons in the sharing economy—including parking. The network’s decentralized and multi-layer blockchain system allows for unparalleled data protection and privacy and facilitates peer-to-peer financial transactions free from the overhead fees of traditional carriers. A broad system distribution and “from the ground up” design deliver the reliable, functional, and robust coverage necessary to support an infinite number of IoT devices.

“As our core network continues to progress, Nesten is keenly focused on the next stage of our growth, which is to enable real-world applications and use cases,” says Dr. Andrew Baek, Nesten CTO. “Our team has worked closely with PNI Sensor since the beginning of the year to build a complete, end-to-end platform of LoRaWAN-based smart parking systems enabled with cloud-based real-time monitoring capabilities.“

Nesten’s complete end-to-end smart parking platform consists of PNI’s LoRaWAN-enabled parking sensors, Nesten’s intelligent multi-protocol wireless node, and a user-friendly customizable app, all fully integrated with cloud network and blockchain processing. The system—which brings together a complete suite of wireless connectivity protocols including LoRa, WiFi, Bluetooth, UWB, and mmWave — facilitates both indoor navigation and campus-wide parking management. The smart parking platform functionality also lends itself to drive-through and drive-in businesses use cases for a range of services.

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The integration of the sensors with blockchain IoT technology creates expanded potential for parking efficiency and profitability in the sharing economy. The low-power, long-life sensors use high-performance magnetic sensing and vehicle detection algorithms to provide accurate and continuous event monitoring even in dense urban areas. Sensors transmit data directly from space users to space owners via the blockchain, facilitating a streamlined hybrid payment system for secure and transparent peer-to-peer payment options.

Every community participant stands to benefit from Nesten’s unique turnkey network approach to improving the parking experience. Customizable software, real-time notification of available parking spots, and turn-by-turn navigation get drivers where they need to be faster and more efficiently. This, in turn, optimizes existing infrastructure and technology, such as parking meters, to improve traffic flow and enable city planners to track and analyze electric vehicle (EV) charging station usage for future planning. The system also delivers unprecedented advancements in efficiency and accessibility for business and property owners. With hour-by-hour space reservations, real-time occupancy monitoring, and peer-to-peer payment options, parking managers can realize higher ROIs while maximizing availability.

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Nesten’s smart parking solution is firmly rooted in the company’s deep expertise and decades-long experience in the communications industry. As a leader in the blockchain IoT sphere, Nesten is committed to redefining the boundaries of communication by ushering a paradigm shift from existing operations that places participants—not corporations—at the center of the data economy.

“The combination of our high-accuracy smart parking sensors and Nesten’s innovative blockchain solution will help accelerate adoption of the new shared parking platform and create expanded opportunities for IoT-based connected experiences,” said Heather Best, global manager for smart parking at PNI Sensor.

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